Cherry Hill Business Park on Springdale Road in Cherry Hill — Courtesy: Colliers
By Tina Traster
Colliers is touting 190,000 square feet in leasing activity last year at the Cherry Hill Business Park, a roughly 616,000-square-foot complex in the township.
The brokerage firm worked on behalf of Cherry Umbrella LLC, an affiliate of Endurance Real Estate Group, to bring tenants to the property. CHBP, located on Springdale Road, comprises 13 buildings of shallow bay industrial and flex space.
“We are thrilled with the leasing activity in 2021, especially in the fourth quarter,” said Colliers’ Ian Richman, who represents the ownership group in the park. We were able to backfill several larger vacancies, while also enhancing the credit profile of the rent roll.”
CHBP has access to two exits of Interstate 295, as well as Exit 4 on the New Jersey Turnpike.
Tenants include Avalon Flooring, Ferguson Bath & Kitchen, Napa Auto Parts, DalTile, Tastykake, ProCustom Solar, Bayada and Window Nation.
Albert J. Corr, senior vice president at Endurance, said: “2021 was our most successful year of leasing activity at CHBP. We completed nine new leases as well as a handful of renewals at the park and have now increased our occupancy level to 98 percent.”
Tina Traster is a freelance writer and the editor of Rockland County Business Journal. She is also a former business writer for Crain’s New York Business, real estate writer for the New York Post and staffer at the Bergen Record.
